A frequent challenge when using graphical models in applications is that the sample size is limited relative to the number of parameters to be learned. Our motivation stems from applications where one has external data, in the form of networks between variables, that provides valuable...

The leading strategy for analyzing unstructured data uses two steps. First, latent variables of economic interest are estimated with an upstream information retrieval model. Second, the estimates are treated as "data" in a downstream econometric model. We establish theoretical arguments for why...

The leading strategy for analyzing unstructured data uses two steps. First, latent variables of economic interest are estimated with an upstream information retrieval model. Second, the estimates are treated as “data” in a downstream econometric model. We establish theoretical arguments for...